Nia Impact Advisors LLC Has $4.51 Million Stock Position in Cloudflare, Inc. (NYSE:NET)

Nia Impact Advisors LLC grew its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 7.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 41,911 shares of the company’s stock after acquiring an additional 2,916 shares during the period. Cloudflare makes up 1.5% of Nia Impact Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. Nia Impact Advisors LLC’s holdings in Cloudflare were worth $4,513,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in shares of Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after buying an additional 517 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in Cloudflare by 218.4% during the fourth quarter. CoreCap Advisors LLC now owns 554 shares of the company’s stock worth $60,000 after purchasing an additional 380 shares during the last quarter. Sava Infond d.o.o. purchased a new position in Cloudflare during the fourth quarter worth about $65,000. Whittier Trust Co. boosted its holdings in Cloudflare by 120.5% during the fourth quarter. Whittier Trust Co. now owns 602 shares of the company’s stock worth $65,000 after purchasing an additional 329 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new position in Cloudflare during the fourth quarter worth about $66,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cloudflare

In other news, CAO Janel Riley sold 4,327 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the transaction, the chief accounting officer now owns 74,698 shares of the company’s stock, valued at $12,519,384.80. This represents a 5.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $124.16, for a total transaction of $372,480.00. Following the completion of the transaction, the insider now directly owns 185,406 shares in the company, valued at $23,020,008.96. The trade was a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 492,492 shares of company stock valued at $63,757,685 in the last quarter. Insiders own 12.83% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on NET. Mizuho upgraded shares of Cloudflare from a “neutral” rating to an “outperform” rating and set a $135.00 price target on the stock in a report on Wednesday, April 16th. Stifel Nicolaus boosted their price target on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Piper Sandler restated a “neutral” rating and set a $151.00 price target (up from $112.00) on shares of Cloudflare in a report on Friday, May 9th. Scotiabank boosted their target price on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Finally, Needham & Company LLC boosted their target price on shares of Cloudflare from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and an average target price of $141.79.

Cloudflare Stock Performance

Cloudflare stock opened at $150.39 on Wednesday. The firm’s 50 day simple moving average is $116.38 and its 200 day simple moving average is $118.56. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $51.90 billion, a PE ratio of -683.59 and a beta of 1.78. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $479.09 million for the quarter, compared to the consensus estimate of $469.49 million. Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The business’s revenue was up 26.5% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. As a group, analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Cloudflare Profile

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.